Shanghai Composite Index Fell 1.42% on Tuesday

By Caixin Automation

China’s benchmark Shanghai Composite Index (000001.SH) lost 1.42% on Tuesday, while the Shenzhen Component Index (399001.SZ) fell 0.54%.

Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 0.88% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 1.32%.

Below is a rundown of the top China business and finance stories, plus other news for the day:

· Yunnan Tightens Aluminum Production Curbs in Green Push

Smelters ordered to slash output 30% the rest of this year to meet goals for cutting energy use and greenhouse gas emissions

· Evergrande Offers Retail Investors Three Payment Options

After protest Sunday in Shenzhen, wealth management unit says it can’t fork over $6.2 billion to investors ‘at this moment’

· Energy Insider: Steel Prices Rise as Production Limits Tighten

New-energy vehicle sales in August top a record 320,000; Tesla raises Model Y price 2.6%; Chinese battery makers bet big on next-generation technology

· Blackstone Drops Bid to Buy Developer Soho, Xiaomi Blocks Smuggled Smartphones Abroad, Japan to Carry Out First Large-Scale Military Drills in 28 Years

Thailand’s growth slows to lowest rate in 20 years, Japan gives up hosting the 2021 FIFA Club World Cup

· Bankrupt HNA Secures Strategic Investors for Airline, Airport Businesses

As part of court-approved restructuring, the conglomerate will bring in two state-backed companies

· China Nets More Illegal Foreign Currency Traders Cashing In on Offshore Gambling

Crackdown intensifies as government seeks to stem the unlawful flow of money used overseas

· Declining Birthrates Have Left Beijing Kindergartens Without Enough Students

Many of the schools, mostly privately run, are having trouble filling their classrooms

· Soho China’s Shares Plummet After Blackstone Abandons $3 Billion Takeover

The failed bid has fueled uncertainty about the prominent propery developer’s future

· Social Media Platforms Pledge to Push ‘Positive Content’ on Chinese Culture

Weibo and iQiyi among 14 online companies also urged to favor core socialist values over ‘unethical’ celebrities as China seeks to reshape showbiz industry and tamp down on fan culture

· East China Province Orders Mass Covid-19 Testing at Schools

Fujian reports more than 70 infections over the weekend, including many elementary school students

Click here to read more of the latest news.

This article was generated by Caixin Automation.

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